Equities Analysts Set Expectations for Target Hospitality Corp.’s Q2 2023 Earnings (NASDAQ:TH)

Target Hospitality Corp. (NASDAQ:TH – Get Rating) – Northland Capmk issued their Q2 2023 earnings per share estimates for shares of Target Hospitality in a report issued on Monday, March 13th. Northland Capmk analyst G. Gibas anticipates that the company will earn $0.36 per share for the quarter. The consensus estimate for Target Hospitality’s current full-year earnings is $1.79 per share. Northland Capmk also issued estimates for Target Hospitality’s Q3 2023 earnings at $0.38 EPS, Q4 2023 earnings at $0.39 EPS and FY2023 earnings at $1.48 EPS.

Several other brokerages have also commented on TH. TheStreet upgraded Target Hospitality from a “c+” rating to a “b” rating in a research report on Wednesday, February 1st. Oppenheimer reiterated an “outperform” rating and set a $22.00 price objective on shares of Target Hospitality in a research report on Monday. Finally, Northland Securities increased their price objective on Target Hospitality from $22.00 to $26.00 in a research report on Monday.

Target Hospitality Price Performance

Shares of Target Hospitality stock opened at $17.31 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.30. The firm has a market capitalization of $1.68 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 0.62 and a beta of 2.24. The business’s 50-day moving average price is $16.10 and its 200-day moving average price is $14.36. Target Hospitality has a 12 month low of $4.68 and a 12 month high of $18.48.

Insiders Place Their Bets

In other Target Hospitality news, Director Jeffrey Sagansky sold 100,000 shares of Target Hospitality stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $15.45, for a total value of $1,545,000.00. Following the transaction, the director now directly owns 1,471,225 shares of the company’s stock, valued at approximately $22,730,426.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Target Hospitality news, Director Jeffrey Sagansky sold 100,000 shares of Target Hospitality stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $15.45, for a total value of $1,545,000.00. Following the transaction, the director now directly owns 1,471,225 shares of the company’s stock, valued at approximately $22,730,426.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Eric Kalamaras sold 62,660 shares of Target Hospitality stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $16.80, for a total value of $1,052,688.00. Following the completion of the sale, the chief financial officer now owns 106,560 shares in the company, valued at $1,790,208. The disclosure for this sale can be found here. Insiders have sold 550,563 shares of company stock valued at $8,637,257 in the last ninety days. Company insiders own 68.20% of the company’s stock.

Institutional Investors Weigh In On Target Hospitality

A number of large investors have recently made changes to their positions in TH. Kornitzer Capital Management Inc. KS bought a new stake in shares of Target Hospitality in the 3rd quarter worth approximately $8,001,000. Private Capital Management LLC boosted its position in shares of Target Hospitality by 9.0% during the second quarter. Private Capital Management LLC now owns 5,880,567 shares of the company’s stock valued at $33,578,000 after purchasing an additional 483,661 shares in the last quarter. First Sabrepoint Capital Management LP bought a new stake in shares of Target Hospitality during the fourth quarter valued at approximately $6,813,000. Kent Lake Capital LLC boosted its position in shares of Target Hospitality by 72.4% during the third quarter. Kent Lake Capital LLC now owns 995,996 shares of the company’s stock valued at $12,569,000 after purchasing an additional 418,248 shares in the last quarter. Finally, Conversant Capital LLC boosted its position in shares of Target Hospitality by 29.3% during the second quarter. Conversant Capital LLC now owns 1,763,661 shares of the company’s stock valued at $10,071,000 after purchasing an additional 399,635 shares in the last quarter. 30.30% of the stock is currently owned by institutional investors.

About Target Hospitality

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Target Hospitality Corp. engages in the provision of rental accommodations with premium catering and value-added hospitality services. It operates through the following business segments: Hospitality & Facilities Services – South, Hospitality & Facilities Services Midwest, and Government. The Hospitality & Facilities Services – South segment operates facilities in the Permian Basin region and communities in Texas and New Mexico.